<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
_________________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event report) November 12, 1997
--------------------
The Money Store Inc. (as Representative under a Pooling and Servicing
Agreement dated as of February 28, 1997 providing for the issuance of TMS
Asset Backed Certificates, Series 1997-A) and each of the Originators
listed on Schedule A attached hereto.
The Money Store, Inc.
--------------------
(Exact name of registrant as specified in its charter)
New Jersey 33-58128-35 upper tier 91-181-5463
- ---------- ----------- ----------
lower tier 91-181-5464
----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
- ------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: (908) 686-2000
--------------
n/a
- -----------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to the November 12, 1997 Remittance Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30, 1996
for MBIA Inc. is incorporated by reference to the Form 10Q filed by MBIA Inc.
with the Securities and Exchange Commission on November 14, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE MONEY STORE INC.
By: /s/ Harry Puglisi
--------------------------
Harry Puglisi
Treasurer
Dated: November 30, 1997
<PAGE>
Schedule A
List of Originators
-------------------
1997-A
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF FEBRUARY 28,1997, THE MONEY STORE INC. REPORTS THE FOLLOWING INFORMATION
PERTAINING TO SERIES 1997-A FOR THE NOVEMBER 12, 1997 DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III
<S> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $14,013,229.71 $11,293,164.11 $356,071.38
ADJ : RECALCULATION 0.00 0.00 0.00
-----------------------------------------------
14,013,229.71 11,293,164.11 356,071.38
LESS: SERVICE FEE (7.03 & 5.04) 90,537.50 60,608.19 2,198.90
CONTINGENCY FEE (7.03 & 5.04) 90,537.50 60,608.19 2,198.90
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04) 107,068.98 80,869.92 0.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00
-----------------------------------------------
288,143.98 202,086.30 4,397.80
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 0.00 0.00 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
-----------------------------------------------
0.00 0.00 0.00
LESS: EXCESS SPREAD (I-19) 1,501,605.96 829,653.43 26,068.42
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00
-----------------------------------------------
1,501,605.96 829,653.43 26,068.42
-----------------------------------------------
AVAILABLE REMITTANCE AMOUNT 12,223,479.77 10,261,424.38 325,605.16
===============================================
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED 38,927,311.83
IN PRIOR SERVICER'S CERTIFICATE
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED 63,100,000.00
IN PRIOR SERVICER'S CERTIFICATE
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED 75,800,000.00
IN PRIOR SERVICER'S CERTIFICATE
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED 61,100,000.00
IN PRIOR SERVICER'S CERTIFICATE
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED 31,100,000.00
IN PRIOR SERVICER'S CERTIFICATE
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED 45,000,000.00
IN PRIOR SERVICER'S CERTIFICATE
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED 30,600,000.00
IN PRIOR SERVICER'S CERTIFICATE
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(H) CLASS A-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 32,000,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 37,000,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 221,238,817.05
(K) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 60,000,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 9,615,955.61
3. PRINCIPAL DISTRIBUTION AMOUNTS :
CLASS A-1 11,273,566.51
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
CLASS A-7 0.00
CLASS A-8 0.00
CLASS A-9 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT : 11,273,566.51
CLASS A-10 9,565,301.08
CLASS A-11 0.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT : 9,565,301.08
CLASS A-12 286,565.86
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT : 286,565.86
4.TOTAL AMOUNT OF POOL I, II & III
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 9,573,026.85
POOL II 5,490,190.74
POOL III 785,883.10
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 11,280,000.00
POOL II 10,720,000.00
POOL III 2,500,000.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PERIOD # ACCOUNTS DOLLARS
POOL I 221 7,980,816.31
POOL II 103 7,545,668.68
POOL III 1 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 1,011,683.21
POOL II 994,700.71
POOL III 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 690,647.18
POOL II 146,368.83
POOL III 4,629.03
9. AMOUNT OF INTEREST RECEIVED
POOL I 4,223,014.03
POOL II 2,525,555.97
POOL III 103,212.47
10. (A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 0.00
POOL II 0.00
POOL III 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 735.92
POOL II 0.00
POOL III 798.22
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 37,751.00
POOL II 2,863.63
POOL III 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 211,180.67
(B) PRINCIPAL DISTRIBUTION AMOUN 11,273,566.51
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPT 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 11,484,747.18
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 345,209.58
(B) PRINCIPAL DISTRIBUTION AMOUN 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPT 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 345,209.58
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 421,637.50
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 421,637.50
CLASS A-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 350,815.83
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-4 REMITTANCE AMOUNT 350,815.83
CLASS A-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 182,971.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-5 REMITTANCE AMOUNT 182,971.67
CLASS A-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 270,375.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-6 REMITTANCE AMOUNT 270,375.00
CLASS A-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 188,955.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-7 REMITTANCE AMOUNT 188,955.00
CLASS A-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 205,466.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-8 REMITTANCE AMOUNT 205,466.67
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 223,079.17
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT 223,079.17
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,399,691.08
(B) PRINCIPAL DISTRIBUTION AMOUNT 11,273,566.51
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 13,673,257.59
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,167,126.94
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,565,301.08
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 10,732,428.02
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 307,945.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 307,945.00
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,475,071.94
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,565,301.08
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 11,040,373.02
CLASS A-12 (POOL III) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 60,300.05
(B) PRINCIPAL DISTRIBUTION AMOUNT 286,565.86
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 346,865.91
14.(A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS X REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND ( iv)
POOL I (0.00)
POOL II 0.00
POOL III 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
15.(A) CLASS A-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 27,653,745.32
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 63,100,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 75,800,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 61,100,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 31,100,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 45,000,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 30,600,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 32,000,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 37,000,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 211,673,515.97
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 60,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,329,389.75
(M) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 403,353,745.32
(N) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 271,673,515.97
(O) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,329,389.75
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II AND III) 100.00%
(B) EXCESS SPREAD (POOL I) 1,501,605.96
EXCESS SPREAD (POOL II) 829,653.43
EXCESS SPREAD (POOL III) 26,068.42
TOTAL EXCESS SPREAD (POOL I, II and III) 2,357,327.81
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II and III 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 61,602.18
POOL II 3,528.93
POOL III 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 267.213
POOL II 350.780
POOL III 332.645
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 11.688%
POOL II 10.438%
POOL III 11.720%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 90,537.50
POOL II 60,608.19
POOL III 2,198.90
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 90,537.50
POOL II 60,608.19
POOL III 2,198.90
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 17,276.14
POOL II 11,718.28
POOL III 400.66
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 34,552.00
POOL II 28,124.00
POOL III 4,407.00
(F) CLASS A-11 AUCTION AGENT FEE 10,862.50
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSUANT TO: POOL I POOL II
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 181,075.00 121,216.38
POOL III
(A) SECTION 5.04 (b) 0.00
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 0.00
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f)(i) 4,397.80
21. CLASS A-1 POOL FACTOR (I-5):
CURRENT CLASS A-1 PRINCIPAL BALANCE 27,653,745.32 0.29325287
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 94,300,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A-2 PRINCIPAL BALANCE 63,100,000.00 1.00000000
ORIGINAL CLASS A-2 PRINCIPAL BALANCE 63,100,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A-3 PRINCIPAL BALANCE 75,800,000.00 1.00000000
ORIGINAL CLASS A-3 PRINCIPAL BALANCE 75,800,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A-4 PRINCIPAL BALANCE 61,100,000.00 1.00000000
ORIGINAL CLASS A-4 PRINCIPAL BALANCE 61,100,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A-5 PRINCIPAL BALANCE 31,100,000.00 1.00000000
ORIGINAL CLASS A-5 PRINCIPAL BALANCE 31,100,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A-6 PRINCIPAL BALANCE 45,000,000.00 1.00000000
ORIGINAL CLASS A-6 PRINCIPAL BALANCE 45,000,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A-7 PRINCIPAL BALANCE 30,600,000.00 1.00000000
ORIGINAL CLASS A-7 PRINCIPAL BALANCE 30,600,000.00
CLASS A-8 POOL FACTOR (I-5):
CURRENT CLASS A-8 PRINCIPAL BALANCE 32,000,000.00 1.00000000
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 32,000,000.00
CLASS A-9 POOL FACTOR (I-5):
CURRENT CLASS A-8 PRINCIPAL BALANCE 37,000,000.00 1.00000000
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 37,000,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 403,353,745.32 0.85819946
ORIGINAL POOL I PRINCIPAL BALANCE 470,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 211,673,515.97 0.81412891
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 260,000,000.00
CLASS A-11 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 60,000,000.00 1.00000000
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 60,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 271,673,515.97 0.84897974
ORIGINAL POOL II PRINCIPAL BALANCE 320,000,000.00
CLASS A-12 (POOL III FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 9,329,389.75 0.93293898
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 10,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 11.688%
POOL II 10.438%
POOL III 11.720%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 11.038%
POOL II 9.571%
POOL II I 10.620%
(C) WEIGHTED AVERAGE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4,
CLASS A-5, CLASS A-6,
CLASS A-7, CLASS A-8 AND CLASS A-9 ADJUST MORTGAGE LOAN
REMITTANCE RATE 7.107%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN
REMITTANCE RATE 5.934%
CLASS A-12 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.125%
----------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 08/31/97 09/30/97 10/31/97
----------------------------------------
POOL I 11.700% 11.694% 11.688%
POOL II 10.187% 10.365% 10.438%
POOL III 11.681% 11.672% 11.720%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.75500%
CLASS A-11 REMITTANCE RATE (BASED ON AUCTION RATE) 5.5990%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. (A) LIBOR RATE 5.62500%
(B) AUCTION RATE 5.599%
25. POOL II NET FUNDS CAP (RATE) 9.872%
CLASS A-10 NET FUNDS CAP 0.00
CLASS A-11 NET FUNDS CAP 0.00
26. CLASS A-10 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-11 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0
0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. OTHER INFORMATION
SPREAD ACCOUNT BALANCES
POOL I 0.00
POOL II 0.00
POOL III 617,061.09
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -OCTOBER 31, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-I $414,517,191.98 9,784 1 TO 29 DAYS 67,150,084.82 1643 16.20%
30 TO 59 DAYS 10,226,433.35 259 2.47%
60 TO 89 DAYS 4,985,454.02 115 1.20%
90 AND OVER 8,470,734.47 166 2.04%
FORECLOSURE 5,288,029.21 73 1.28%
REO PROPERTY 0.00 0 0.00%
TOTALS $96,120,735.87 2,256 23.19%
=========================================
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -OCTOBER 31, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-II $278,042,269.57 3,531 1 TO 29 DAYS 50,240,495.50 633 18.07%
30 TO 59 DAYS 6,232,337.04 103 2.24%
60 TO 89 DAYS 3,689,868.34 50 1.33%
90 AND OVER 5,683,133.94 77 2.04%
FORECLOSURE 2,932,575.52 31 1.05%
REO PROPERTY 166,800.00 2 0.06%
TOTALS $68,945,210.34 896 24.80%
=======================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -OCTOBER 31, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-III 9,531,918.71 49 1 TO 29 DAYS 63,000.00 1 0.66%
30 TO 59 DAYS 0.00 0 0.00%
60 TO 89 DAYS 267,000.00 1 2.80%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $330,000.00 2 3.46%
================================
</TABLE>
<PAGE>
1997-A
The following additional information, presented in dollars, pursuant to
Secton 6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi)
is provided for each Class per $1,000 (or per $25,000 for Class A-11)
original dollar amount as of the Cut-Off Date.
POOL I
<TABLE>
<CAPTION>
SUBCLAUSE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
- ----------------------------------------------------------------------
<S> <C> <C> <C> <C>
(ii) 412.80 1,000.00 1,000.00 1,000.00
(vi) 84.63 0.00 0.00 0.00
(vii) 10.73 0.00 0.00 0.00
(viii) 7.32 0.00 0.00 0.00
(xiii) (a) 2.24 5.47 5.56 5.74
(b) 119.55 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 293.25 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
SUBCLAUSE CLASS A-5 CLASS A-6 CLASS A-7 CLASS A-8
- ----------------------------------------------------------------------
<S> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 0.00 0.00 0 0.00
(vii) 0.00 0.00 0 0.00
(viii) 0.00 0.00 0 0.00
(xiii) (a) 5.88 6.01 6.18 6.42
(b) 0.00 0.00 0 0.00
(c) 0.00 0.00 0 0.00
(d) 0.00 0.00 0 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0 0
</TABLE>
<TABLE>
<CAPTION>
POOL II POOL III
SUBCLAUSE CLASS A-9 CLASS A-10 CLASS A-11 CLASS A-12
- -------------------------------------------------------------------
<S> <C> <C> <C> <C>
(ii) 1,000.00 880.85 25,000.00 981.91
(vi) 0.00 0.00 0.00 17.47
(vii) 0.00 0.81 0.00 0.00
(viii) 0.00 0.77 0.00 0.50
(xiii) (a) 6.03 4.25 117.71 6.16
(b) 0.00 29.93 0.00 20.32
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 1,000.00 850.92 25,000.00 961.60
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
